Trump says he has brought down mortgage payments by nearly $3,000 a year

Core Points - President Trump claims improvements in mortgage costs since his return to office, attributing affordability concerns to his policies and blaming the Biden administration for high housing costs [1][2] - A chart presented by Trump indicates that annual total mortgage payments increased by over $14,600 during Biden's term, while they have decreased by more than $2,900 since Trump resumed presidency [2][3] - Realtor.com confirms that Trump's claims are largely accurate for new homes, although median mortgage payments are still over 80% higher than at the end of Trump's first term [3][6] Mortgage Payment Analysis - Under Biden's administration, mortgage payments surged due to rising home prices and increased mortgage rates, with new home prices rising over 20% and average mortgage rates increasing from 2.74% to 6.96% from January 2021 to January 2025 [9] - Existing home prices saw an even more significant increase of 48% during the same period, with price growth slowing to about 2% this year [9] - The analysis from Realtor.com shows that while annual payments for existing homes increased by about $14,600 under Biden, savings on mortgage payments during Trump's second term were smaller, approximately $540 annually or $45 monthly [7][9] Current Market Trends - New home prices have been trending lower since late 2022, and mortgage rates have eased to about 6.2% recently [12] - The impact of presidential terms on the economy is complex, making it challenging to attribute changes directly to the administration in power [12]